Comcast Corporation (Nasdaq:CMCSA) has published a Rule 2.4 announcement regarding a possible offer which is a superior cash proposal to acquire Sky, the company said.
Sky is a consumer entertainment company in Europe, providing exceptional entertainment and communications services primarily in the UK, Germany, and Italy.
Comcast´s announcement of a superior cash proposal of GBP 12.50 per share represents a 16% increase in value over the existing 21st Century Fox offer for Sky. Comcast´s superior cash proposal implies an equity value of USD 31bn (GBP 22bn) for Sky.
A combination would bring attractive financial benefits to Comcast shareholders, and is expected to be accretive to Comcast´s free cash flow per share in year one.
Comcast is a global media and technology company with two primary businesses, Comcast Cable and NBCUniversal. Comcast Cable is one of the nation´s largest video, high-speed Internet, and phone providers to residential customers under the XFINITY brand, and also provides these services to businesses. Visit www.comcastcorporation.com for more information.